It’s Fix the Tax Code Friday! As the economy continues to sour, Congress and the White House both agree that some measure of economic stimulus is needed. The problem? They can’t agree on what would work best. So, I’m taking it to you, the taxpayers… Which of the following scenarios currently being contemplated by Congress…
Even though many politicians – including President Bush – are still reticent to use the “R” word (recession), economic pundits, including those in the Bush administration are using it. Ed Lazear, President Bush’s chief economic adviser, has been quoted as saying that “parts of the country” are in a recession. With the threat (or reality,…
I indicated earlier that I didn’t think that a second economic stimulus package would be considered until after the elections – and it looks like that is, in fact, the case. I’m actually still confident that any stimulus package which includes “tax rebates” would not result in checks being mailed out until the new year….
Lately, there have been a number of emails and comments regarding the possibility of a second stimulus package. You can read what I had to say about it earlier here and here (I stand by my original posts). There were some good follow-up questions in the comments – but it struck me that not everyone…
Why is it that Congress can’t pass a bill without a bunch of add-ons? As it turns out, the bailout of the economy will be no different. This evening, the Senate passed a version of the bailout bill by a vote of 74 to 25 (in case you’re wondering, both McCain and Obama voted yes)….
Wondering how Paulson intends to spend your tax dollars? Me too. But if he has his way, you and I won’t have a say in it – nor will anyone else. In a three page summary of his plans for a bailout, which he hoped that Congress would rush to approve, Paulson wrote: Sec. 8….
Okay, maybe not all of them. I was a first time home buyer once, too. ** Oh sorry, I just drifted off to a dreamland involving no screaming kids or barking dogs. ** But the latest rounds of criticisms of the Housing and Economic Recovery Act of 2008 have gotten to me. I’ll just say…
My inbox is chock full of people asking me to verify rumors – some of them quite specific and I have to say, just a little bit humorous – that a new stimulus package has been approved. In fact, I’ve been getting these questions for a couple of months now. But the requests for information…
It turns out that while the US has been facing record budget deficits, Iraq has been doing pretty well. US auditors have predicted a budget surplus of $80 billion in Iraq: 94% of that revenue comes from oil. It’s not surprising. Oil revenues are at their highest point in years while the costs to Iraq…
Taxpayer asks: I work for an accounting firm and my boss mentioned she had heard on TV (gotta love the media) that because the first round of stimulus checks didn’t stimulate the economy as they thought ( I loved your – who really did profit from the stimulus checks), that the IRS was considering another…